Administrative Agency:

Nonprofit (National): Evergreen Business Capital

Program Goals:

Evergreen Business Capital helps small businesses think big. Expanding while retaining sufficient working capital is a challenge for many small businesses. The U.S. Small Business Administration established the 504 loan program to help businesses easily purchase commercial real estate, machinery, and equipment and to keep more cash on hand. Low down payments and long-term, low fixed-interest rates give business owners the certainty to put down roots and the ability to expand their entrepreneurial horizons. The SBA 504 loan boosts business expansion and supports economic development in communities nationwide.

Resource Provided:

Evergreen Business Capital is the Northwest's leading SBA 504 Loan Program expert, with nearly 30 years in the industry. It recognizes the vital role small- and mid-sized businesses play in creating jobs and fostering economic growth. They help those businesses grow and succeed by facilitating the premier tool for business financing -- the SBA 504 loan. Founded in 1980, Evergreen is a private, nonprofit organization authorized by the U.S. Small Business Administration (SBA) as a Certified Development Company (CDC). It serves as an intermediary for the SBA 504 Loan Program and several other business loan programs. SBA 504 loans offer a low-down-payment, long-term, low-interest-rate solution for the purchase of commercial real estate and equipment, allowing business owners to keep cash available for other needs. By partnering with lenders to provide partial funding, Evergreen reduces their risk. It connects businesses in Washington, Oregon, Alaska, and Northern Idaho with financing solutions that lower barriers to commercial real estate ownership and boost economic development. The largest CDC in the Pacific Northwest, Evergreen has helped small businesses create more than 36,000 jobs and make more than $2 billion in capital improvements. Evergreen has advanced small business development by providing more than 1,700 loans, totaling upwards of $800 million. Evergreen offers the highest level of performance, service, and expertise in the region.

Eligibility:

The SBA 504 loan serves many healthy, growing small- to mid-sized businesses. It is available to individual business owners or multiple owners partnering on a project. To qualify, a business must be a for-profit enterprise, occupy 51% of an existing building or 60% of a newly constructed building, meet a least one goal around job creation, public policy, or community development through the project, and -Put down 10% of the total project cost, -Put down 15% if the loan is for the purchase a single-purpose property or the company ownership is less than two years old, or -Put down 20% if the loan is for the purchase a single-purpose property and the company ownership is less than two years old.

Comments:

Securing financing can be complex. Evergreen makes it easier. Their experience and expertise with the SBA 504 Loan Program enable them to offer advice and service, resulting in an efficient, smooth loan process. Benefits of working with Evergreen: -It is an SBA Premier Certified Lender Program (PCLP) CDC -- borrowers and lenders enjoy an expedited process with our increased authority to process, close, service, and liquidate SBA 504 loans -Simultaneous signing process reduces hassle, paperwork, and risk -Knowledge, experience, and service are the best in the region -They make it simple.

Program Contact:  (Primary Contact listed first.)

Barbara Gill, Senior Loan Officer
Evergreen Business Capital
PO Box 3673
Palmer, AK 99645-3673
Phone: (907) 746-5047
Fax: (907) 745-8504
e-mail: barbara.gill@evergreen504.com
Web site: http://www.evergreen504.com